By Martin Coulter LONDON (Reuters) -Britain will host the world's first global artificial intelligence (AI) safety summit this week to

Arista Networks' third-quarter adjusted earnings easily topped estimates, Lattice Semiconductor issues a weak revenue forecast, and Pinterest posts a profit and revenue better than analysts' expectations.

In the evolution of the electric vehicle, the United Kingdom is like the Galapagos. The battery-powered genus is

Elon Musk’s X is now valued at about $19bn or less than half of what he paid to buy the social media company, according to a new report. The multibillionaire Tesla and SpaceX chief last year finally bought the microblogging platform that was formerly called Twitter for the price of $44bn or $54.20 per share. Mr Musk’s purchase was completed after a months-long legal battle with the company. A new internal valuation has now found there to have been a 56 per cent decrease in the company’s value over the last 12 months, suggested internal documents. Stock grants handed out to employees showed X/Twitter is now worth about $19bn, Fortune reported on Monday. Mr Musk earlier said he had overpaid for the social media platform that he called “an inverse start-up.” In March, he told employees in an email that they would receive stock awards based on a $20bn valuation of the firm. The valuation drop comes as several high-profile advertisers have withdrawn after the Tesla titan’s controversial takeover of the company. Mr Musk’s reign of the platform has been marred by mass layoffs, the chaotic roll out of a number of new features, including the site’s verification process, and the reinstatement of previously suspended high-profile accounts. The company was also rebranded X along with a new logo to replace the bird icon that had been there since the platform’s creation. There have also been rising concerns around X’s content moderation approach. The EU recently opened an investigation into the company as misinformation linked to the Israel-Hamas conflict began to spread on the platform. In July, Mr Musk shared that X is “still negative cash flow” with a “50 per cent drop in advertising revenue plus heavy debt load”. Banks involved in financing the multibillionaire’s deal to buy Twitter are also reportedly struggling to mitigate the impact of platform’s decline in value on their balance sheets. The Tesla and SpaceX boss, however, has remained optimistic about the future of the platform. Mr Musk claimed in an email last year that he saw a “clear, but difficult, path to a >$250B valuation” for the company. In a recent company meeting, he also reportedly expressed his belief that the rebranded X could serve as an all-purpose app with a range of features like job recruitment and dating services. “We’re rapidly transforming the company from sort of what it was, Twitter 1.0, to the everything app with an all-inclusive feature app where you can basically do anything you want on our system,” he said, according to The New York Times. The Independent has reached out to X for a comment. Read More Elon Musk slammed by Israel for offering to send Starlink to Gaza Elon Musk says X posts with misinformation are ‘ineligible for revenue share’ Twitter adds video calling – and lets strangers ring you Elon Musk was ‘almost in tears’ on Tesla earnings call, analyst claims Slack to retire its status account on Elon Musk’s X Tesla’s profits dip as Musk goes on rant about staff working from home

BEIJING China's state-backed chip investment fund has invested 14.56 billion yuan ($1.99 billion) in a memory chip company

The consensus is that Advanced Micro Devices will report quarterly revenue of $5.7 billion with adjusted earnings per share of 68 cents.

TOKYO Taiwanese chipmaker Powerchip Semiconductor Manufacturing Corp and Japanese financial firm SBI Holdings said on Tuesday they have

Chinese demand for Australian iron ore will remain strong despite the nation’s disappointing post-pandemic recovery, according to Fortescue

Apple has revealed an updated version of its MacBook Pro, featuring new chips and a new colour. The new computer was launched at its ‘Scary Fast’ event. The only other launch from the event was an update to the iMac, which was first released in 2021, which receives a new processor but no other changes. Both the new laptops and the updated iMac are powered by Apple’s new M3 chip. That is the third generation of the company’s own Apple Silicon chips, since it began producing them in 2020. Apple said that the M3 chip was around 15-30 per cent faster than the previous M2. But it preferred to compare its performance with the Intel chips that it used in its computers until 2019, in what appeared to be a gesture of humility about the changes in the new line-up. As well as the base version of the M3, which will go into the new 24-inch iMac and 14-inch MacBook Pro, Apple launched the more powerful M3 Pro and M3 Max. It is the first time that Apple has unveiled three chips at once – in previous generations, Apple launched the base version of the processor before higher-powered versions some months later. In addition to the new chip, Apple announced a new “space black” colour for the MacBook Pro. It specifically pointed out that it used a particular kind of aluminium that would not pick up fingerprints. The updated 14-inch MacBook Pro received a price cut from $1,999 to $1,599. All of the updated computers will go on sale next week, with the exception of the MacBook Pro with M3 Max, which will arrive later in November. Those three announcements – a new family of chips, alongside a new iMac and two versions of the MacBook Pro to put them in – were the only announcements from the event. Apple also removed the 13-inch version of the MacBook Pro from its line-up, but did not announce it during the event. It lasted only 30 minutes, unusually short for an Apple event. Apple chief executive Tim Cook closed the event by suggesting there would be no more major announcements for the rest of the year. The livestreamed launched had been odd from the beginning. Apple held it at night time rather than its standard morning launch, as well as holding it much later in the year than usual, and announced it with relatively little preparation. Read More Apple is about to launch new products at a shock event - follow live How Apple gave people a library of classical music – and made it accessible Apple is about to add a host of new features to the iPhone

A mysterious Apple launch event is offering hope of some positive news ahead of earnings but Wall Street analysts are cautious.

A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town. In Fort

Chipmaker Wolfspeed on Monday forecast a smaller-than-estimated second-quarter loss as it expects a boost to its business from